Kindly answer 2,3 and 4 2. Change the total fixed manufacturing overhead cost for the Milling...

Kindly answer 2,3 and 4

2. Change the total fixed manufacturing overhead cost for the Milling Department in Data area back to $390,000, keeping all of the other data the same as in the original example. Consider a new job, Job 408, with the following characteristics:

	A	B	C
1	Chapter2: Applying Excel
2
3	Cost summary for Job 408	Department
4		Milling	Assembly
5	Machine-hours	60	2
6	Direct labor-hours	8	20
7	Direct materials cost	$500	$250
8	Direct labor cost	$160	$400

In your worksheet, enter this new data in the cells for Job 407.
2. What is the new selling price for Job 408? (Round your final answer to 2 decimal places.)

3. Without changing the data for the job from requirement 2 above, what is the selling price for Job 408 if the total number of machine-hours in the Assembly Department increases from 3,000 machine-hours to 4,000 machine-hours? (Round your final answer to 2 decimal places.)
4. Restore the total number of machine-hours in the Assembly Department to 3,000 machine-hours. And keep the job data the same as it was in Requirement 2. What is the selling price for Job 408 if the total number of direct labor-hours in the Assembly Department decreases from 80,000 direct labor-hours to 50,000 direct labor-hours? (Round your final answer to 2 decimal places.)

Expert Solution

2.
Selling Price for Job 408 = $3535

3.
Selling Price for Job 408 = $3535

4.
Selling Price for Job 408 = $3666.25

Markup on job cost	75%

	Department
	Milling	Assembly
Machine hours	60000	3000
Direct Labor hours	8000	80000
Total Fixed Manufacturing Overhead	$ 390,000	$ 500,000
Variable manufacturing overhead per machine hour	$ 2.00
Variable manufacturing overhead per direct labor hour		$ 3.75

Cost Summary for Job 408	Department
	Milling	Assembly
Machine Hours	60	2
Direct Labor hours	8	20
Direct Material	$ 500	$ 250
Direct Labor Cost	$ 160	$ 400




	Milling	Assembly
Total Fixed Manufacturing Overhead	$ 390,000	$ 500,000
Variable manufacturing overhead per machine hour	$ 2.00	$ 3.75
Total Machine hours or direct labor hours	60000	80000
Total Variable Manufacturing Overhead	$ 120,000	$ 300,000
Total Manufacturing Overhead	$ 510,000	$ 800,000


	Milling	Assembly
Total Manufacturing Overhead	$ 510,000	$ 800,000
Total Machine hours or direct labor hours	60000	80000
Predetermined Overhead rate	$ 8.50	$ 10.00


	Milling	Assembly
Predetermined Overhead rate	$ 8.50	$ 10.00
Machine hours or direct labor hours for the job	60	20
Manufacturing overhead applied	$ 510	$ 200


	Milling	Assembly	Total
Direct Materials	$ 500	$ 250	$ 750
Direct Labor cost	$ 160	$ 400	$ 560
Manufacturing overhead applied	$ 510	$ 200	$ 710
Total Cost of Job 408			$ 2,020


Total Cost of Job 408			$ 2,020.00
Markup			$ 1,515.00
Selling Price of Job 408			$ 3,535.00

ekkarill92 answered 1 year ago

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